Professional Guide

 

Becoming a Consultant

This guide serves as your introduction to entering this professional field, providing you with the resources and knowledge needed to take proactive steps toward your future.

 
 

What is Consulting?

Power of Knowledge
Consultants are professionals who provide expertise to organizations to solve problems. 

Power of Teamwork 
Consultants are always working in hierarchical teams in close contact with their clients’ needs. 

Different Types of Problems 
New opportunities, new ways to grow & improve performance. 

Different Types of Industries 
Projects can be related to different topics and industries, for both private and public organizations.

THE LIFESTYLE OF A CONSULTANT

  • They work in a fast-paced culture and a stimulating environment.
  • They are offered great opportunities for career growth.
  • After the first couple of years, they receive an attractive pay.
  • They face a great variety of projects.
  • They don't mind working long hours when the project demands it.
  • They have the opportunity to travel if the business needs it.

MAIN ROLES IN CONSULTING

If you are thinking about becoming a consultant, there are two main paths you can pursue:

1. Becoming a consultant at a consulting firm.
Either a big or a boutique firm. At a consulting firm, you could have an external consulting position, which consists of directly working for a client, or an internal consulting position, which consists of supporting other teams from the inside.

Consultant positions
The biggest portion of employees at a consulting firm are consultants. They are the ones working on the projects. Promotion in consulting is very linear and fast, which explains the well-established hierarchy. Depending on the services offered by the firm, you can also work as an Auditor or Business Analyst.

2. Becoming an Internal Consultant at any Multinational Company, which is also known as in-house consulting.

In-house consulting:
In-house consulting is another name for internal consulting. It usually refers to a department established in a large company, which provides management consulting services to the rest of the company, or to selected departments.

If you are planning on working as an In-house Consultant, the industrial sector could be a good option to be considered. Check out here for more info!

However, if what you like is the environment and culture of a consulting firm, but do not want to work as a consultant, you can always apply to common internal functions as the ones listed below.

Internal positions
Consulting firms are companies with a regular organizational structure. This means you can also work in a consulting firm in departments such as:

  • Accounting
  • Human resources
  • Marketing & communications
  • Legal department
  • ...and many more!

Applications open when there's a need in the company and the vacancies are published on their own job sites. Usually, these internal positions require students to like the industry, but they don't necessarily ask for case-cracking skills (which consultant positions require).

MAIN PLAYERS

However, if what you like is the environment and culture of a consulting firm, but do not want to work as a consultant, you can always apply to common internal functions as the ones listed below.

MBBs

McKinsey | Bain | BCG
The TOP 3 main players in Consulting
Each MBB also englobes multiple subsidiary companies, such as Orphoz, Bain Capital Ventures and Platinion.
Click here for the key insights

TIER 2

BIG 4 (Deloitte, EY, KPMG, PwC) | Accenture | Kearney | LEK | Oliver Wyman | Roland Berger | Simon-Kucher
Large consulting firms that enjoy a strong global reputation, following MBBs closely.
Click here for the key insights

OTHER GLOBAL CONSULTING FIRMS

The list is endless, but here are some more names to consider:
Accuracy
Advancy
AlphaSights
Alton Aviation Consulting
Alvarez & Marsal
AON
Arthur D. Little
BDO
BTS
Capgemini Invent
Compass Lexecon
Efficio
FEV Consulting
Fide Partners
Gartner
Grant Thornton
Heidrick & Struggles
Management Solutions
Mastercard Advisors
Mind The Bridge
Minsait
Newton
NTT Data
Partners in Performance

Check out Management Consulted Top Consulting Firms by Industry.

Click here for Tech Consulting Insights.
Click here for Social & Behavioral Sciences Consulting.
Click here for Branding & Communication Consulting.
Click here for Architecture & Design Consulting.

These are only a few of the many consulting firms to consider. There are many consulting firms not included in any of these lists that are still great professional opportunities. Smaller, boutique firms can be perfect to learn a lot and grow fast within the company.

FREQUENTLY ASKED QUESTIONS

Strategy, management or operations

There is not one better than the other, only think of what fits best with the type of tasks and projects you enjoy. What type of questions would you like to answer for your clients? Here are some examples:

  • How do we align teams to execute the new vision? - Management Consulting
  • Where should we grow next? - Strategy Consulting
  • Why is our order processing taking three days instead of one? - Operations Consulting

Most big consulting firms today are a mix of these consulting areas, not exclusive to only one type of consulting.

It is relatively easy to move from one to the other. Specially for junior roles, companies appreciate any consulting experience, even if obtained in a different area.

Who is the Ideal Candidate for Consulting?

DESIRED PROFILE FOR GENERAL CONSULTING POSITIONS

You need to show them how passionate you are about the Consulting Sector. That needs to be clearly stated in the first sentence of your CV. They want to see a committed student with a clear career direction and with the skills they are looking for.

PROBLEM SOLVING

  • Synthesis of ideas
  • Analytical mindset
  • Business oriented
  • Work under-pressure
  • Teamwork

PRACTICALITY

  • Results-oriented
  • Structured mindset
  • Reliability
  • Resilience
  • Excel & PowerPoint

COMMUNICATION

  • Verbal communication
  • Written communication
  • Local language proficiency is often required. If you are interested in a Consulting Career in Spain, work on learning the local language through your time at IE.

ESSENTIALS FOR AN MBB
If applying to Bain, BCG and McKinsey

  • Excellent academic records (GPA > 8.5/10)
  • Previous experience in consulting/investment banking/top companies is appreciated.

Some other highly valuable skills in consulting are adaptability, humility to be coachable and willing to learn, curiosity, eagerness and initiative.

CRAFT YOUR CONSULTING CV ACCORDINGLY

Consulting is a competitive sector in which we need to make the most of our first impression: our CV. Keeping in mind the ideal candidate for Consulting, you can craft a CV that is impressive for recruiters even without experience. Here are some ideas:

  • Include "Relevant Courses" in your IE University Education and highlight quantitative coursework: Classes like economics, statistics, finance, engineering, or computer science can help demonstrate your analytical strength.
  • Make sure to mention your client-facing or leadership tasks as part of your experiences or extracurricular activities: Whether you’ve led a campus organization, worked in customer service, or participated in volunteer projects, firms love to see that you’ve developed interpersonal and leadership skills in real-world settings.
  • Include tasks and extracurricular activities that demonstrate structured thinking: Participating in case competitions, debate teams, or business clubs can show that you can structure your ideas and approach problems logically—exactly what you’ll be doing in client cases.
  • Don't forget to add your data analysis skills: Experience with Excel, SQL, Python, or data visualization tools is increasingly valued, as many consulting projects rely on data-driven insights. As an IE student, you have access to over 4.000 courses in Coursera. Register and log in with Single Sign On and your IE credentials here.

Continue reading to find Opportunities & Musts during your time at IEU that will help you strengthen your Consulting candidature.

Opportunities & Musts during your time at IEU

As we explained in the Webinar on "How to Get Experience When you Don't Have Experience", there are various things you can do while at IE University to complete your CV. Make sure to review those activities and complement them with some specifics to make your CV more consulting focused and attractive to top firms.

CONSULTING CLUB
Consulting recruiters view active involvement in your university's Consulting Club very positively and sometimes even require it. You should not only join the club but also take part in its activities (Bootcamps, Case Olympics, Cups of Consulting, company presentations, etc.). You can join the IE Consulting Club here.

CONSULTING SIMULATIONS
Make your CV stand out to consulting recruiters by doing and including different The Forage consulting simulations. Having done their own or other's consulting simulation will be valued, showing interest and proactivity in becoming a consultant. Check all the available job simulations posted by top consulting firms here.

UNDERGRADUATE GLOBAL CASE COMPETITONS
If you want to stand out to consulting firms, global case competitions are a game-changer. They give you hands-on experience solving complex business problems, working in teams, and thinking strategically—just like a consultant would. 

Case competitions are a great addition to your CV. Even if you don’t win, participation demonstrates initiative and a global mindset, making you stand out as a proactive, well-rounded junior profile ready to add value from day one. Take a look at these global case competitions for undergraduates:

  • Global Case Competition by 180Degrees Consulting
    • Applications typically open in August and close in September
    • Check the website for details and registration
  • ISM Global Case Competition
    • Applications typically open in September
    • Check the website for details and registration
  • Global CBS Case Competition
    • Applications deadline is typically November
    • Check the website for details and registration
  • Global Case Competition at Harvard (GCCH)
    • Applications typically open in November
    • Check the website for details and registration
  • Case Competition World Cup by Management Consulted
    • Applications deadline is typically December
    • Check the website for details and registration
  • Accuracy Business Cup
    • Applications deadline is typically January
    • Check the website for details and registration

Keep in mind that applications and deadlines may vary from one year to the next.

IE OPPORTUNITIES FOR 1ST AND 2ND YEAR STUDENTS 
From your very 1st year at IE, there are multiple programs powered by T&C that help you establish a professional and enriching experience with companies from different sectors, including consulting.

Young Corporate Program (YCP) & Deloitte

Participation in some of these programs during their 1st year at IE has resulted in return offers after graduation. Explore all the opportunities here.

THE IMPORTANCE OF NETWORKING EVENTS
Consulting is a competitive sector, but making the most of the events at IE will help you stand out as a candidate and make sure that you CV reaches recruiters and employers as much as possible. Throughout the year, many consulting firms make time to meet IE students at the IE tower and Velazquez campus, and sometimes hold online sessions as well. Keep track of our communications and attend events every time you can.

Application & Recruitment Process

CONSULTING OPPORTUNITIES TIMELINE

Big consulting firms often recruit many months in advance. We can find offers with start dates 6 months and sometimes even a year from now. It is highly encouraged to keep reviewing which opportunities are open long before we actually want to start.

There are always spontaneous opportunities and much more immediate processes in any firm, big and small. Do not be discouraged if you haven't started applying yet and wish to join a company soon, it is never too late!

STEPS WITHIN THE RECRUITING PROCESS

While consulting firms welcome a great variety of profiles, it is essential for all candidates to carefully prepare each step of the recruitment process, specially cases. Case interviews require good practice to be done correctly. In the following sections, you can find information about the typical recruitment process at a consulting firm and how to prepare each step using all the resources at your disposal.

  • ONLINE ASSESSMENT + VIDEO INTERVIEW

    Many consulting firms do an online assessment or a video interview as first steps in their recruitment process. Prepare them beforehand using these resources:

    • JobTestPrep for Online tests. You can search by the name of the company to see what tests they commonly use, or search by the name or theme of the test if you know it.
    • VMock Elevator Pitch for Video Interviews. This tool helps you practice your 1-minute Elevator Pitch and uses AI to give you feedback.
  • FIT INTERVIEW

    In Fit or Behavioral Interviews, employers want to see your interest, and how you have the potential to be a consultant at their firm.

    There are 3 initial questions you are always going to have to answer with confidence:

    • Tell me about yourself.
    • Why do you want to get into consulting?
    • Why do you want to become a member of this firm?

    But they will also ask about previous experiences, through which you should showcase your consulting skills (mentioned earlier on this guide).

    Make sure to review all our resources on how to prepare these interviews here and:

    • Research the firm's website and review the job offer.
    • Review most common questions for fit and behavioral interviews and prepare your answers, tailoring them to the opportunity you are interviewing for.
    • Practice your answers! We hold Interview Preparation Workshops  every Tuesday during the school year.
  • CASE INTERVIEW

    WHAT IS IT?
    An interviewer states a business question or an analytical problem. Typically, you have 15-25 minutes to solve it through discussion and data analysis. Your interviewer will question your logic, test your analytical skills, and expect a final recommendation.

    WHAT IS THE FORMAT? 
    One-on-one = Most typical one.

    • Be ready to drive the discussion, but be open to listen to the interviewer and take their feedback while cracking the case.
    • Emphasis on quantitative (numbers) and qualitative (explanation of the numbers) skills.

    WHAT ARE THE FOUR MAIN ASPECTS?

    • Structure: Using a case-cracking model helps both the interviewee and the interviewer while cracking the case. You need to have a clear idea of how to organize the data and what steps are needed to reach the answer. Choose a model that gives you confidence when cracking any case.
    • Analysis: Evaluate the prompt, the variables involved and the additional information. Keep the analysis alive during the whole interview. Think beyond the basics. Ask the interview questions.
    • Integration: Case-cracking is not only about giving a single result, but it's about understanding the case as a whole, being able to deep-dive into the insights and project the data into future ideas. You can and must bring insights from outside knowledge and all the information, quantitative and qualitative, into the equation.
    • Communication: This is a MUST! They want to see your train of thought and the only way to do so is communicating. Show them your notes, explain them where your mental analysis is. They don't want to hear silence during the interview nor a single-word answer. Create rapport with the interviewer and feel free to ask for feedback throughout the whole interview.

    HOW TO PREPARE?
    At IEU you have plenty of resources to start practicing cases. Usually, companies expect junior candidates like you to have practiced at least 20 cases when applying to any internship opportunity. Feel free to practice individually, pairing up with friends, joining guided activities or any other option that you could find interesting but, please, make sure you practice!

    • CaseCoach: Check instructions to claim your free access to this IE-sponsored platform here.

      You have free access to Case Coach for the entire duration of your studies at IE and one more year after your graduation. If at some point the access does not work for you, contact us.

      Some highlighted sections:
      1. Case Interview Preparation Training → The basics of cases and how to solve them
      2. Case Library → Hundreds of case examples for you to practice
      3. Practice room → Other students around the globe to practice cases with
      4. Drills → Short exercises to prepare each of the four main sub-exercises in a case interview

    • Talent & Careers Case Practice Workshop. During this practical workshop, you will have the opportunity to practice a Case Cracking with the guidance and support of Sandra, a former Associate Partner from McKinsey & Company. For details and registration, click here.
      Note: The workshop will only take place if two or more students sign up before Monday at 12:30pm. If it's only you, try to convince a friend!

    • Talent & Careers Consulting Thursdays. Practice cases with visiting consulting firms interested in meeting you and helping you prepare! Stay tuned for details on our upcoming Consulting Thursdays Fall Series.

    • Mock Case Interview / Individual practice session with an expert. When invited to a case interview as part of your recruitment process, we can activate you an online individual practice session (up to 2 per school year) with an expert collaborator. Simply forward your invite or email in which it is indicated that you will be going through a case interview to the T&C inbox (ieu.careers@ie.edu) or your Career Coach.
      Note: These sessions should be final practice - Our collaborators expect a good understanding of cases to focus on final details and polishing performance, so practicing through our other resources first is crucial to really make the most of these sessions.

    • Consulting Club Case Cracking Sessions. Join the club on IE Connects and learn about the sessions they organize.

WHAT CAN YOU APPLY TO?

Once your CV is on point, you can start applying. Depending on your year and experience you can either apply to:

  • Summer Programs, Summer Experiences, Bootcamps or ChallengesSummer Internship
  • Summer Internship
  • 6-month Internship
  • Entry level positions

Find details on all these opportunities below. Please, keep in mind that this information may vary from one firm to another so take this information as a general overview of the most-frequent opportunities available in the Consulting Sector.

Additional Resources

You can join our sector-specific monthly session in Consulting. Work alongside Talent & Careers to discuss your own career strategy for the Consulting Sector and solve any possible questions you might have.

This open session happens on the first Tuesday of the month at 11:30 – 12:30 and 16:00 – 17:00. Only from October to May. Join through this Zoom link.

Alumni in Consulting

These links showcase IE alumni thriving in the consulting sector. They provide valuable insights into their career journeys and the skills they developed at IE. Enjoy exploring!

KEY TAKEAWAYS FROM THIS GUIDE

  • There are many consulting firms, opportunities are endless!
  • If you have decided to start your career in Consulting, there are some steps you need to start taking:
    • Join the IE Consulting Club and consider global case competitions to acquire relevant experience before professional experience.
    • Craft your CV according to what is expected and desired from a candidate applying to consulting.
    • Follow key companies closely and be up to date with any events and networking opportunities you might encounter. Sometimes companies come to IE and sometimes they invite us over. Network as much as possible both inside and outside IE!
    • Practice cases as soon as you start applying. Aim for at least 20 practice cases before you do any case interview.
    • Contact T&C if you are scheduled for an online assessment or any interview and we will help you prepare!
    • Attend our monthly sector-specific session in Consulting if you have any doubts.

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